General Re, a subsidiary of Berkshire Hathaway Inc., announced that the China Insurance Regulatory Commission (CIRC) has invited the company to apply for a national reinsurance license to conduct both life and property/casualty business throughout China. It also announced that …
Shares in PICC Property and Casualty Co. Ltd., (formerly Peoples Insurance Company of China) the country’s largest property insurer, began on the Hong Kong stock exchange earlier today with a bang, rising 50 percent over their H.K.$1.80 (U.S.$0.23) opening price …
AIG isn’t the only company that’s seeking to strengthen its already historic roots in China. HSBC Holdings Plc. (once known simply as the Hong Kong and Shanghai Bank) announced that it is on the point of receiving a joint venture …
American International Group plans to further expand its already extensive activities in China by Buying a 9.9 percent stake in PICC Property & Casualty Co., the country’s largest general insurer with a 70 percent market share. AIG will reportedly take …
Standard & Poor’s has published a report on the Asia-Pacific non-life reinsurance market, which indicates that it “is experiencing a period of profitability following a decade of weak results due to under priced excess capacity.” “Over the past two years, …
Hurricane Fabian is still a class 4 storm, even though its maximum sustained winds have lessened somewhat to 135 mph (215 kph), according to the National Hurricane Center. In Southeast Asia another powerful storm, typhoon Dujuan, narrowly missed passing directly …
Standard & Poor’s Ratings Services has published a report on the Asia-Pacific nonlife reinsurance market, which indicates that it “is experiencing a period of profitability following a decade of weak results due to underpriced excess capacity.” “Over the past two …
The Board of Directors of Transatlantic Holdings, Inc., a leading international reinsurance organization, announced the appointment of Mr. Tomio Higuchi, Chairman of Millea Holdings, Inc. and President of The Nichido Fire & Marine Insurance Company, Limited, as a Director. He …
The International Finance Corporation, the private sector arm of the World Bank Group, and Zurich Emerging Markets Solutions, the political risk and credit insurance unit of Zurich North America, announced that they are establishing a risk sharing facility that will …
Munich Re has become the first international reinsurer to receive a country-wide composite reinsurance operating license in the People’s Republic of China from the Chinese Insurance Regulatory Committee (CIRC). The responsible Member of the Board, Karl Wittmann, stated: “We are …
